Business briefs

MOHEGAN, Conn. — The chief executive of the Mohegan Tribal Gaming Authority says the Mohegan Sun casino is laying off more than 300 employees and replacing its CEO.

Mitchell Etess told The Day of New London Thursday that Jeffrey Hartmann will be replaced by Bobby Soper, CEO of Mohegan Sun at Pocono Downs in Wilkes-Barre, Pa. Etess said 282 employees are being laid off immediately and another 46 will be let go at the end of October when the casino closes a restaurant that will reopen under new management. Etess said the casino is also shutting down its keno operation.

He said the layoffs affect workers in nearly every department and job level.

The casino and nearby rival Foxwoods have blamed revenue declines on the weak economy and new regional competition.

WASHINGTON — Federal and state prosecutors have collected more than $30 billion from drug companies for alleged fraud and illegal marketing over the last 20 years, according to a new report by consumer advocacy group Public Citizen.

The report shows that state attorneys are increasingly following the lead of federal prosecutors in seeking multimillion-dollar settlements with drugmakers such as GlaxoSmith Kline and Eli Lilly & Co. Analysis by Public Citizen found that state governments have collected $3.7 billion from drug makers since 2009, or roughly six times more money than in the previous 18 years combined.

Overcharging state health plans like Medicaid was the most common allegation, while unapproved drug marketing was the most costly, the group says.

WASHINGTON — Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.40 percent. That's down from last week's rate of 3.49 percent, which was the lowest since long-term mortgages began in the 1950s.

The average on the 15-year fixed mortgage, a popular refinancing option, fell to 2.73 percent, down from the record low of 2.77 percent last week.

BOSTON — Discover Financial Services on Thursday reported a slight earnings decline in its fiscal third quarter, but the result easily beat Wall Street expectations as credit card use increased and more customers paid off their card balances on time.

Those gains helped offset higher expenses, including a legal bill from a settlement with regulators, and shares of Discover rose over 7 percent. The Riverwoods, Ill.-based company reported net income of $621 million, or $1.21 per share, for the quarter ended Aug. 31, after paying preferred shareholders.

ALBANY, N.Y. — Five major rental car companies have agreed to stop leasing and selling vehicles under safety recalls, according to U.S. Sens. Charles Schumer of New York and Barbara Boxer of California.

The senators say the agreement involving Enterprise, Hertz, Avis, Dollar, Thrifty and National will pave the way for legislation covering the industry. The bill is expected to be voted on during the upcoming lame duck session.

An announcement was made Thursday in Washington with relatives of two women from California who died in a car fire in a vehicle that the senators say was under a safety recall.

The companies represent more than 90 percent of the rental car industry. Consumer groups call it a major improvement in auto safety because rental car agencies are the biggest buyers of new cars.